Multiple Choice
Pete owns a shoe-shine business. Which of the following costs would be implicit costs? (i)
Shoe polish
(ii)
Rent on the shoe stand
(iii)
Wages Pete could earn delivering newspapers
(iv)
Interest that Pete's money was earning before he spent his savings to set up the shoe-shine business
A) (i) and (ii) only
B) (iv) only
C) (iii) and (iv) only
D) (i) , (ii) , (iii) , and (iv)
Correct Answer:
Verified
Correct Answer:
Verified
Q12: Table 13-9<br><br><br> <span class="ql-formula" data-value="\begin{array}
Q70: Profit equals total revenue minus total cost.
Q124: Kelly has decided to start his own
Q162: Table 13-8<br><br><br> <span class="ql-formula" data-value="\begin{array}
Q541: Table 13-18 <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB1273/.jpg" alt="Table 13-18
Q542: Table 13-1 <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB1273/.jpg" alt="Table 13-1
Q545: Table 13-18 <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB1273/.jpg" alt="Table 13-18
Q548: Economists assume that the typical person who
Q550: Table 13-11 <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB1273/.jpg" alt="Table 13-11
Q551: A firm has a fixed cost of